Wall Street's clearinghouse seeks 'high-performance' blockchains to tokenize corporate actions

DTCC CEO Frank La Salla said the clearing giant is working with layer-1 blockchains to bring millions in corporate actions like dividend payments onchain, but challenges remain. What to know : The Depository Trust and Clearing Corporation is working with several high-performance layer-1 blockchains to move complex corporate actions, such as dividend payments and tender offers, onchain. DTCC, which processes about $20 trillion in U.S. securities trades daily, plans to begin testing its tokenized securities platform in July with a broader rollout targeted for October. DTCC CEO Frank La Salla said tokenized collateral and real-time dollar liquidity could be blockchain’s first major institutional use case, but warned that scalability, liquidity fragmentation and the loss of netting efficiencies remain significant challenges.